Diversify Advisory Services LLC Trims Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Diversify Advisory Services LLC lessened its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 23.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,107 shares of the home improvement retailer’s stock after selling 2,866 shares during the period. Diversify Advisory Services LLC’s holdings in Lowe’s Companies were worth $1,970,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC boosted its position in shares of Lowe’s Companies by 14.0% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 595 shares of the home improvement retailer’s stock valued at $131,000 after acquiring an additional 73 shares during the last quarter. Atlas Private Wealth Advisors lifted its position in Lowe’s Companies by 100.0% during the second quarter. Atlas Private Wealth Advisors now owns 1,824 shares of the home improvement retailer’s stock valued at $402,000 after purchasing an additional 912 shares during the last quarter. QRG Capital Management Inc. grew its stake in Lowe’s Companies by 1.8% in the 2nd quarter. QRG Capital Management Inc. now owns 132,130 shares of the home improvement retailer’s stock worth $29,129,000 after buying an additional 2,295 shares in the last quarter. Cardinal Capital Management increased its holdings in shares of Lowe’s Companies by 0.4% in the 2nd quarter. Cardinal Capital Management now owns 46,173 shares of the home improvement retailer’s stock worth $10,179,000 after buying an additional 169 shares during the last quarter. Finally, Annex Advisory Services LLC raised its position in shares of Lowe’s Companies by 9.2% during the 2nd quarter. Annex Advisory Services LLC now owns 1,528 shares of the home improvement retailer’s stock valued at $337,000 after buying an additional 129 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of LOW traded down $0.50 during mid-day trading on Friday, reaching $235.83. 1,675,460 shares of the company’s stock traded hands, compared to its average volume of 2,531,770. The stock’s 50-day moving average is $227.92 and its two-hundred day moving average is $230.87. The stock has a market cap of $134.38 billion, a P/E ratio of 18.94, a P/E/G ratio of 1.85 and a beta of 1.07. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.94 by $0.12. The business had revenue of $21.36 billion during the quarter, compared to the consensus estimate of $21.14 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period last year, the company earned $3.67 earnings per share. Research analysts predict that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th were issued a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.25%. Lowe’s Companies’s payout ratio is 36.95%.

Analyst Upgrades and Downgrades

LOW has been the subject of a number of recent research reports. Telsey Advisory Group restated a “market perform” rating and issued a $230.00 price objective on shares of Lowe’s Companies in a report on Tuesday, May 21st. DA Davidson decreased their price target on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, May 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $246.00 price target on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Citigroup decreased their target price on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Finally, Wedbush reiterated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Fourteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $250.19.

About Lowe’s Companies

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.